EX-12.1 4 v34462exv12w1.htm EXHIBIT 12.1 exv12w1
 

EXHIBIT 12.1
EXPEDIA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                                 
    Six months ended        
    June 30,     Year ended December 31,
    2007     2006     2005     2004     2003     2002  
                    (dollars in thousands)                  
Earnings:
                                               
Income before minority interest and income taxes
  $ 218,143     $ 384,898     $ 413,871     $ 269,543     $ 255,498     $ 209,416  
Fixed charges
    26,262       27,173       10,772       7,867       5,074       3,667  
 
                                   
Total earnings
  $ 244,405     $ 412,071     $ 424,643     $ 277,410     $ 260,572     $ 213,083  
 
                                               
Fixed Charges:
                                               
Estimate of interest within rental expense (1)
  $ 5,184     $ 9,907     $ 8,667     $ 7,867     $ 4,867     $ 3,667  
Interest expense
    20,403       16,362       1,819             207        
Amortization of capitalized expenses
    675       904       286                    
 
                                   
Total fixed charges
  $ 26,262     $ 27,173     $ 10,772     $ 7,867     $ 5,074     $ 3,667  
 
                                               
Ratio of Earnings to Fixed Charges
    9.31 x     15.16 x     39.42 x     35.26 x     51.35 x     58.11 x
 
(1)   Interest expense was estimated by using one-third of total rental payments.